Where Are People Getting Decent Lease Deals From?

[H18Golf]

Hi all,

Currently own a 2006 Mk5 GTI, and love it.  However keep seeing people on my drive to work in Mk7 GTi's, GTD's or R's and think I might want one (preferably GTi).

My question is, where are people getting decent lease deals from?  Some of the people I see knocking about in R's are about 19.  Now this could be their parents car, or they could be getting into mountains of debt.  But when I look online now and again at various lease companies, they want about £2.5k up front plus over £300 a month.  Is this the going rate?

To be honest I don't mind handing out say £1-1.5k up front and then paying £230-250, but anymore than that and I just couldn't afford it.

Any help with websites, company names is greatly appreciated.   

[pudding]

If you look into it a bit deeper, you will find the £300ish deal is probably for a 5 door manual, with a 5-6K allowance.   

More allowance, DSG, 3 Door, metallic paint etc can all bump the monthlies up considerably.

The mega deals of 12 months ago are long gone.

I looked into it myself last year when I considered moving the ED30 on, but when it came down to it, I wasn't prepared to pay £17Kish over 3 years for the spec I wanted.  It didn't make financial sense when the Eddy owes me nothing.  A perfectly decent, but older GTI with just fuel as the monthly outgoing, or £400 a month + 3K down for a car I know for a fact I would get bored of after 6 months, and I can't modify it.

Have you test driven an R yet to decide if it's worth the debt?

[H18Golf]

That's the other thing Pudding, I haven't even driven a Mk7 yet.  However after owning Golfs most of my life and from other peoples reviews reckon I would be happy enough in one.  Obviously if I saw a decent lease deal I would be straight down to my local VW acting interested in buying one outright to get a test drive.

To be honest as I said, the only way id be going for a Mk7 GTi or R would be if I could get a deal for below £250 a month and without having to stump up more than £1.5k before I even sit in the car.  So its probably very unlikely.

It just always puzzles me when I see all of these new cars going about how people are affording them?!

[stealthwolf]

Having driven a MK7 GTI, it felt very similar to the MK5 albeit a bit more roomier. I didn't like the steering wheel for some reason. Other than that, it felt very similar to the ED30.

[MC71]

Loads of discussions and threads on VWROC about just this, have a gander on there as there is a WHOLE section on leasing etc. There are NO big deals around these days, those days are gone, be it the GTI or R. Expect to pay around £2k and £300+ a month for a poverty spec car.

I can't comment on finance as I didn't need it but buying an R second hand (2 years old) meant I only had to stump up £22k.....big saving on new due to thier prevalence.

[pudding]

I can't comment on finance as I didn't need it but buying an R second hand (2 years old) meant I only had to stump up £22k.....big saving on new due to thier prevalence.

That is what I would do.  £22K personal loan @ 4 years = £485pm with Sainsburys bank, 2.9%.  Nothing down, yours at the end of it.  Or £687pm over 3 years if wanting to clear it off quicker.  Can modify it, do what you like to it, it's yours. No mileage anxiety.  Even less a month if I got, say, £7K for my Eddy, so brings it down to £330pm @ 4 years, and £434 @ 3 years.

I simply cannot bring myself to pay £17K over 3 years and hand it back, nothing to show for it. Can't touch it. Still have to pay if it gets damaged. Still have to pay for servicing, maintenance and insurance etc etc on top. Have to pay if you go over the mileage allowance.
This method works for a lot of people. It's an instant way into brand new car rental, and I'm not judging, but it's not for me.  I would rather keep what I pay for.

[pudding]

That's the other thing Pudding, I haven't even driven a Mk7 yet.  However after owning Golfs most of my life and from other peoples reviews reckon I would be happy enough in one.  Obviously if I saw a decent lease deal I would be straight down to my local VW acting interested in buying one outright to get a test drive.

To be honest as I said, the only way id be going for a Mk7 GTi or R would be if I could get a deal for below £250 a month and without having to stump up more than £1.5k before I even sit in the car.  So its probably very unlikely.

It just always puzzles me when I see all of these new cars going about how people are affording them?!

You should get yourself a ride in a MK7 PP.  A lovely and very talented car.  Arguably a wiser buy than the R imo, unless you want 4WD specifically.  Where I live, Rs are theft magnets, so I'm not willing to risk it tbh.

A lot of young kids still living at home mate.  A lot of people over stretching themselves.  A lot of people on good money.  All sorts of circumstances buddy.  I know a few young girls I work with (21-30 age bracket) are driving around in brand new mercs & Bimmers on lease because - Mummy & Daddy.  Ignore them chap, and focus on your own circumstances.

The one thing I noticed with the MK7 is it feels like a MK5 with the quality notch dialed up a few clicks, so it's a home from home.  Very similar driving dynamics, but a fresher, stiffer bodyshell and taughter damping.  Much better ride too.  For me it's not worth spending that kind of money on yet....I've got a Golf already, so buying another Golf would need to be a more realistic price, so that means waiting for them to devalue.  I'm a patient guy.  Need to be with MK5 ownership 

[pudding]

If you are going to do it mate, I would advise you do it soon because when the base rates go up (when, not if), loan rates will go up.

[H18Golf]

All good advice Pudding, cheers.  Think I will be leaving it to be honest.  As I said I still love my Mk5 GTi after 3 years of ownership, so think I would be better investing a bit of money in it.

I've still got jobs to do with the Mk5 that I've always planned to do.  It will be going in this summer for the front wings to be sorted, plus there is a small scuff on the front bumper.  That and tyres etc will be better getting the money spent on instead of just throwing money at a brand new car for the sake of it.

Thanks again for your input.   

[pudding]

Sometimes we just need to take stock of what we've got and appreciate it.  Complacency and boredom is common these days because there is too much choice!  At the end of the day, as nice as it would be to have a nice new Golf 7.5 on your drive, the MK5 is still a very decent car 

[prp74]

Sometimes we just need to take stock of what we've got and appreciate it.  Complacency and boredom is common these days because there is too much choice!  At the end of the day, as nice as it would be to have a nice new Golf 7.5 on your drive, the MK5 is still a very decent car 

Sound advice